Ask Lem: How Long Does a Ranch Sale Take
It took just more than 18 months from listing to ownership transfer to sell the storied, 535,000-acre W.T. Waggoner Ranch.
Nearly 900 would-be buyers expressed an interest, despite the $725 million price tag.
In the end, a half-dozen potential buyers paid $15 million in order to submit a bid, and in February 2016, billionaire Stan Kroenke – owner of the Los Angeles Rams and Denver Nuggets – claimed the prize.
Many people believed that the historic estate founded Dan Waggoner in 1849 would never be sold – not just because of its size and price, but because some of the descendants of Dan – his great-grandson Buck in particular – swore to prevent a sale of the historic property.
Selling the ranch, The Dallas Morning News observed, “was the deal that wouldn’t get done, couldn’t get done.”